The Spanish Government has come under further pressure to take an international bailout after the governor of the central bank said that extra measures were needed to meet this year’s deficit target.

Luís María Linde added that the 2013 Budget, presented just 10 days ago, was based on an “optimistic” view of the recession, in comparison with most analysts who predicted a 1.5 per cent decline next year rather than the government forecast of 0.5 per cent.

Mr Linde’s comments came as Mario Draghi, the President of the European Central Bank, appeared to nudge Spain towards the bailout that many